Tech

US firm acquires SA payroll startup PaySpace

Published

2 months ago

March 6, 2024

United States-based HR platform, Deel, has announced the acquisition of South African payroll and HR startup, PaySpace, in its bid to expand into the African continent.

PaySpace is one Africa’s largest human resource platforms that provides multi-country payroll and HR functionalities with built-in compliance for organisations of all sizes and industry sectors, operating in 44 countries across the world, and catering to more than 14,000 customers, including multinationals such as Heineken, Coca-Cola Beverages and Puma Sports SA.

On the other hand, Deel is a payroll and compliance provider based in San Francisco, which helps companies simplify every aspect of managing an international workforce, from culture and onboarding, to local payroll, compliance and now, people management.

It owns more than 130 country entities and manages in-house, in-country payroll teams.

These, according to Deel’s co-founder and CEO, Alex Bouaziz, informed the decision for the acquisition of PaySpace which will make “Deel become the first global payroll and Employer of Record (EOR) with its own full-stack payroll engine localised in 50 countries and integrated into its offering.”

“Global payroll is hard to do and critical to get right. As a company, you want assurances you can pay your teams on time, compliantly, anywhere in the world,” said Bouaziz.

“PaySpace’s single-platform payroll expertise and breadth of coverage, particularly in Africa and the Middle East, combined with PayGroup’s presence in APAC, will give Deel customers the reach they need to grow their businesses globally.

“Our long-term vision is to be the most comprehensive payroll system in the world,” Bouaziz added.

Also speaking on the deal, PaySpace Director, Clyde van Wyk, said Deel, like PaySpace, strives to evolve its offering through disruption.

“We set out to modernise the payroll industry, which was burdened by manual processes and stringent legislative and compliance requirements, much like Deel revolutionised global hiring.

“This acquisition brings together leading employment services and payroll technology expertise, delivering a unique and powerful customer offering with unrivaled automation, flexibility and scalability,” he said.

Related Topics:Acquisition Deel Featured HR Payroll PaySpace

Click to comment

Tech

RepAir, Cella partner to launch carbon capture in Kenya

Published

1 day ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

2 days ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.